Form 4: Pinterest Co-Founder Sells $3.58M in Stock

Pinterest co-founder Benjamin Silbermann executed pre-planned sales of Class A Common Stock totaling approximately $3.58 million on September 10, 2025.

Summary

• Benjamin Silbermann, a Director and 10% Owner of Pinterest, Inc., reported stock transactions on September 10, 2025.
• These transactions involved the conversion of Class B Common Stock into Class A Common Stock, followed by the sale of Class A shares.
• A total of 83,333 Class B shares held by the Benjamin and Divya Silbermann Family Trust were converted to Class A Common Stock.
• An additional 18,750 Class B shares held by SFTC, LLC were converted to Class A Common Stock.
• Sales included 63,864 Class A shares at a weighted average price of $34.7987 and 19,469 Class A shares at a weighted average price of $35.1825, both from the Benjamin and Divya Silbermann Family Trust.
• An additional 18,750 Class A shares were sold at $36.00 from SFTC, LLC.
• All reported sales were conducted under a Rule 10b5-1 trading plan adopted by Mr. Silbermann on December 13, 2024.

Sentiment

Score: 5

Explanation: Neutral. While insider selling can be viewed negatively, the pre-planned nature via a 10b5-1 plan mitigates concerns that it's based on new, adverse information. It's a routine liquidity event for a long-term insider.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, indicating a planned liquidity event rather than a reaction to new, adverse company information.

Negatives

• Significant insider selling by a co-founder and 10% owner, even if pre-planned, could be perceived negatively by some investors.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Benjamin Silbermann disclaims beneficial ownership of shares held by SFTC, LLC, except to the extent of his pecuniary interest, if any, in such shares by virtue of certain of his immediate family members' interests in The Silbermann 2012 Irrevocable Trust.

Stakeholder Impact

• Shareholders may view the insider selling as a routine liquidity event given the 10b5-1 plan, but some might interpret it as a lack of confidence, potentially leading to minor short-term price fluctuations.

Key Dates

Recommendation

The reported transactions are routine insider sales executed under a pre-established Rule 10b5-1 trading plan. Such planned sales by a co-founder and significant shareholder are common for diversification or liquidity purposes and do not typically signal a change in the company's fundamental outlook or warrant a change in investment thesis based solely on this filing. Investors should maintain their current position and look to broader company performance and market trends for investment decisions.

Keywords

Pinterest, PINS, Benjamin Silbermann, Insider Trading, Form 4, Stock Sale, Rule 10b5-1, Class A Common Stock, Class B Common Stock, Director, 10% Owner